Bengaluru, Oct 30 (PTI) City-based startup MyPetrolPump today said it was keen to avail benefits under a centralgovernment initiative to raise funds for extending theirtechnology solutions to detect and prevent fuel adulteration.
"Last week, the central government had unveiled a Rs 320crore fund to support startups in the oil and gas sector. Weare keen on availing funds to extend our technology solutionsto detect and prevent fuel adulteration.We want to raise aboutRs 50 lakh for the purpose," MyPetrolPump CEO Ashish KumarGupta told PTI here.
MyPetrolPump claims it is the first startup in India torun diesel door delivery (refuelling) business.
Oil Minister Dharmendra Pradhan had unveiled the Rs320-crore fund last week to help promote innovation and newbusiness models in the oil and gas sector.
Gupta said MyPetrolPump's initial prototype testingresults had shown significant promises to detect blue keroseneadulteration in diesel fuel.
"We are further extending the solution for all variantsof diesel and kerosene blends for flow rates as low as 1 litreper minute to 2,000 litre per minute," he said.
The technology would not only solve diesel adulteration problem for Oil Marketing Companies,but also protect consumersfrom getting adulterated fuel into their equipment,Gupta said.
The startup has helped more than 300 apartment complexesin Bengaluru get their diesel gen sets refuelled safely ontime.
"We have supplied more than 50,000 litres so far," headded.
"With our direct-to-equipment state-of-the-artrefuelling system, these 300 plus apartment associations havesaved average diesel pilferage of Rs 2.4 lakh on monthlybasis that was happening during diesel transportation orloose storage in jerry cans and drums earlier," he added.
The deliveries were stopped for two months, from July to August end, after Petroleum and Explosives Safety Organisation(PESO) directed state-run OMCs and private retailers not tosell fuel, citing "safety." ANB Fuels, under the brand MyPetrolPump, had launched itsoperations from June 18 with three delivery vehicles, each with a capacity of 950 litres, but had to suspend the deliverywithin four days of launch due to a PESO circular to oilcompanies to stop providing fuel to it.
Replying to a query, Gupta said the startup resumedoperations in September as it believes the firm is completelya legal entity adhering to the existing guidelines and rulesunder the petroleum act.
"We welcome government's approach towards bringingspecific guidelines, which will allow doorstep delivery modelto be implemented across India by several other startups likeus," he said. PTI BDN RA APRAPR.
This is unedited, unformatted feed from the Press Trust of India wire.